Xotels

APRIL 3, 2024

We have written extensively about hotel revenue management strategies and tactics here throughout the years. As strategy is one of the most essential parts of revenue management, we have made a summary of all the top advice from our perspective as a hotel revenue management consulting company.

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Xotels

APRIL 3, 2024

XOTELS – Revenue Management eBook In the first chapter of this eBook, we will go over the definition of what is revenue management in the hotel and hospitality industry. Everything will be explained from the fundamentals of revenue management to more advanced practices and strategies.

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Revenue Management Revenue Management Forecasting 52

eZee Absolute

MAY 7, 2024

But hotel revenue management can be your secret wand. Revenue management is about more than just the right pricing. It’s about knowing what guests need, predicting bookings, and adjusting rates to make more revenue. In the ever-competitive world of hospitality, staying ahead can be a real challenge.

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Little Hotelier

FEBRUARY 25, 2024

What is revenue management consulting? Revenue management consulting is specialised expertise that a business can bring in to gain guidance on managing and optimising revenue. An investment in hotel revenue management services is therefore one that can quickly deliver an attributable return.

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Catala Consulting

JULY 30, 2023

In the fiercely competitive hospitality industry, the essence of successful resort revenue management lies in data-driven decision-making. This approach is pivotal in optimizing financial performance and driving both revenue growth and guest satisfaction. Why is Revenue Management Imperative for Resorts?

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Revenue Management Revenue Resorts Management 52

Hotel Business

SEPTEMBER 15, 2023

Eister There are many myths about revenue management, but there are five we hear most often. Myth #1: Revenue management is only essential when business is booming. Revenue management is a fundamental part of business, especially in such a dynamic industry as hospitality. By Craig V.

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Catala Consulting

JANUARY 18, 2024

In the dynamic world of hospitality, the UK market stands out as a beacon of innovation and adaptation, particularly in the realm of hotel revenue management. This article explores the top trends in hotel revenue management, yield management, and revenue management in the UK, offering insights and strategies for hotel professionals.

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Cloudbeds

NOVEMBER 15, 2024

While better than operating without data, this approach is reactive and inefficient, resulting in missed opportunities. In this article, we explore what decision intelligence is and the transformative effect it’s bound to have across demand optimization, segmentation, operations, and training and enablement.

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Cloudbeds

SEPTEMBER 18, 2024

Data analytics is the cornerstone of successful hotel operations. From understanding top-performing channels to finding new revenue opportunities to enhance the guest experience, data analytics touches every department. Revenue management Aside from accounting , revenue management may be the most data-heavy department in hotels.

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Hotelogix

MAY 16, 2024

It's about exceeding them while efficiently managing your operations. Streamline operations with a cloud-based hotel property management system (PMS) Upgrading to a cloud-based Hotel PMS can significantly improve hotel operational efficiency. Top 5 Tips on How to Improve Efficiency in Hotels  1.

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SiteMinder

JUNE 26, 2024

Revenue optimization vs revenue management In terms of definition and practice, there is a difference between revenue optimization and revenue management. Table of contents Why is hotel revenue optimization important? Included in this will be key metrics, forecasting models, and trending insights.

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Hotel Business

SEPTEMBER 5, 2024

Whereas, Diamo will intensify its efforts in leveraging technology to make advanced revenue management strategies, along with high-return digital marketing tactics, accessible to independent lodging properties. The 400,000-plus smaller independents globally have been underserved by solutions that address the holistic revenue problem.

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Revenue Management Digital Marketing OTA Revenue 59

STAAH

OCTOBER 27, 2024

Achieving goals with STAAH’s superior solution With multiple room types across properties spread across the world, agility in operation and optimisation is essential. Daily deals, upselling, promos and a number of other in-built capabilities allow Chokhi Dhani revenue managers to drive demand based dynamic pricing decisions.

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SiteMinder

OCTOBER 1, 2024

Hotel automation is the use of technology to perform routine tasks and manage operations in a hotel with minimal human intervention. This includes automating guest check-ins, housekeeping schedules, inventory management, and communication with guests through automated messaging platforms.

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Hotelogix

AUGUST 6, 2024

Here's a detailed guide on transforming your hotel's revenue management to focus on profit maximization. Maximizing Hotel Profit As a hotelier, you must adopt a holistic strategy that considers all revenue streams and cost factors to maximize profit. Read Also: What is Dynamic Pricing in Hotels?

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Revenue Management Upsell Target Marketing 52

Cloudbeds

APRIL 9, 2024

The hospitality industry has been notoriously slow to innovate, relying on outdated, siloed systems that make running day-to-day operations a struggle. A channel manager with real-time, two-way synchronization to manage all channels, rooms, and rates in a single, user-friendly platform. Upselling tools. What is an API?

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SiteMinder

JANUARY 8, 2024

What is hotel management? Hotel management is the practice of overseeing every operation of the business to ensure consistent growth and development. Hotel management made easy Streamline hotel management, boost revenue, and enhance guest experience with SiteMinder's smart platform.

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SiteMinder

NOVEMBER 18, 2024

Performance analysis: Allows you to understand the effectiveness of strategies and overall operational efficiency. Industry benchmarking: See how you compare to local industry standards and competitors. Financial planning: Gives you insights for future investment decisions and budgeting.

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Little Hotelier

OCTOBER 30, 2024

Key features to choose the right PMS integration solution Choosing the right hotel PMS integration solution is crucial for ensuring seamless operations. Look for a system that automates key operations like updating room availability, managing bookings, and processing payments. Streamlined operations.

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OTA Motels Upsell Overbooking 52

SiteMinder

JANUARY 8, 2024

What is hotel management? Hotel management is the practice of overseeing every operation of the business to ensure consistent growth and development. Hotel management made easy Streamline hotel management, boost revenue, and enhance guest experience with SiteMinder's smart platform.

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Operations Management OTA Hotels 52

SiteMinder

JUNE 12, 2024

What is Yield Management? Yield management is a pricing and revenue management strategy that is used to maximise business performance. It involves adjusting prices based on predicted demand and other external factors to maximise revenue or yield. Revenue management is the focal point for hotels in today’s climate.

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Cloudbeds

APRIL 15, 2024

From checking in guests and entering reservations to managing rates and assigning rooms, many hotels still perform a lot of manual tasks. Oftentimes, these tasks overpower hotels’ ability to invest in proper guest communication, marketing activities, and revenue management , which significantly impacts performance and profitability.

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Revenue Management Hotels Operations Revenue 98

SiteMinder

SEPTEMBER 10, 2024

CPOR is a crucial metric in the hotel industry that helps measure the efficiency and profitability of a hotel’s operations. CPOR can be influenced by a number of factors and can often be a representation of how effective your revenue management and marketing strategies are. What are variable costs per occupied room?

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Cloudbeds

FEBRUARY 28, 2024

We’ll also show you how to harness this powerful technology to capture more reservations, streamline booking processes, save time and costs, and increase guest satisfaction – whether you operate a hotel, hostel, motel, B&B, or vacation rental company. Generate more revenue. Manage rates and availability in real-time.

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Revenue Management Revenue Hotels Operations 98

AskSuite

OCTOBER 24, 2024

This goes beyond simply filling rooms; it’s also about: Increasing profits throughout the year; Building lasting guest relationships; Maximizing upselling and cross-selling; Discovering new sales opportunities. Hotel sales focus on accelerating revenue through well-planned strategies that ensure sustainable business growth.

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Hotel Business

SEPTEMBER 11, 2024

Following extensive discussions with stakeholders, such as developers, owners, operators and municipalities, and considering insights from market-based analytics, the company developed a four-story, 71-unit prototype. “We Across revenue management, sales, marketing and loyalty, there’s a lot of excitement about this new opportunity,” he said.

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Cloudbeds

AUGUST 12, 2024

For example, if your RMS (revenue management system) is not integrated with your PMS, you may find yourself manually updating room rates, negating the efficiency gains these technology solutions are meant to provide. With a mass influx of point solutions targeted at solving specific problems (ie., Learn more 8.

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SiteMinder

JULY 29, 2024

Hotel profit margins are calculated by determining the percentage of a hotel’s revenue that remains after taking away all the costs associated with running the business, including staffing, marketing, maintenance, utilities, catering, waste, and more. Net Profit Margin equals (Net Profit / Total Revenue) * 100 = 54% Are hotels profitable?

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Xotels

JULY 26, 2024

As someone who spent his fair share of time in the trenches of revenue management, I can tell you it isn’t just some fancy industry jargon; it’s a game-changer, a revenue booster, your ticket to serious profit. The Power of Experts Yield management can be complex, but you don’t have to go at it alone.

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Yield Management Upsell Hotels Ancillary Revenue 59

Hotel Business

MAY 11, 2023

That includes helping us deliver new innovations to hotels such as room upselling, integrated revenue management and mobile housekeeping management, among others, all on a global scale.”

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Hotel Business

JUNE 7, 2024

In this competitive and increasingly complex industry, leveraging AI’s immense potential will give hoteliers a competitive edge—enabling them to revolutionize guest experiences, drive operational efficiencies and increase revenue.” and European hotels.

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Casinos Upsell Digital Marketing Revenue 59

Xotels

JULY 26, 2024

As someone who spent his fair share of time in the trenches of revenue management, I can tell you it isn’t just some fancy industry jargon; it’s a game-changer, a revenue booster, your ticket to serious profit. The Power of Experts Yield management can be complex, but you don’t have to go at it alone.

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Hotel Business

JULY 1, 2024

Designed to increase profitability by leveraging technology to streamline owner operations, the rollout of Wyndham Connect helps owners keep guests more engaged than ever by personalizing their experience, the company reports. Last year, hotels across all Wyndham brands globally with Overall Social Review (OSR) scores above 4.0,

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Upsell Revenue Management Resorts Revenue 59

Cloudbeds

SEPTEMBER 12, 2024

Here we’ve broken down 12 ways that AI technology is having the greatest impact on hotel operations. Guest experience Managing and personalizing the guest experience was once a time-consuming and tedious process. This not only enhances the guest experience but also creates opportunities for upselling and cross-selling.

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Hotel Speak

JUNE 6, 2024

SHR is key to the vision of becoming a one-stop shop for the full range of hospitality property management, operations, and front-of-house tools. With revenue of over £1bn, The Access Group has more than 7,000 employees worldwide and provides software solutions to over a dozen other sectors.

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Catala Consulting

DECEMBER 28, 2023

In the hospitality industry, hoteliers are constantly seeking innovative strategies to enhance guest satisfaction, optimize operations, and boost revenue. To meet these evolving demands, hoteliers must adopt an innovative mindset, continuously seeking new ways to delight guests, improve operations and increase hotel performance.

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Hotel Business

MARCH 14, 2024

This proactive approach minimizes the risk of overbooking or underutilization of rooms, ultimately improving revenue management and operational efficiency.

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